Regional town remains resilient despite COVID-19
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Property investors enjoyed capital gains of 2.44% over the last 12 months in RIVETT, translating to lower returns compared with its peers in ACT.
Figures from the previous quarter show that capital gains for real estate buyers in RIVETT are low, as opposed to average gains per annum over the past five years.
The suburb posted a 12.4% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $550 based on current median home prices for the suburb.
On average, rents on listings have reached the $550 mark, reflecting a 4.54% increase in returns based on the current median price in RIVETT.
RIVETT, 2611 ranks 51st in ACT in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 23rd on the list of best yielding suburbs for rental properties in ACT, posting a 4.54% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $630,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.4% | N/A |
| Median 12 month | 2.44% | N/A |
| Median 3 years | 12.4% | N/A |
| Median 5 years | 22.09% | N/A |
| 10 years average annual | 3.28% | N/A |
| Weekly media advert. rent | $550 | N/A |
| Time on Market | 60.7 days | N/A |
| Gross Rental Yield Percent | 4.54% | N/A |
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